My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Growth Strategies

Why The Competition Isn't Your Business Enemy

Contributor
Marketing Master - Author - Blogger - Dad
2 min read
Opinions expressed by Entrepreneur contributors are their own.

I’ve heard many people say that in business you should focus your energy on beating an “enemy.” The notion is that if you concentrate on beating out your closest competitor, you will one-up them each and every time and “win.”

Ouch. This makes me wince. I’d much rather focus on my customers and what they need and want from me -- constantly striving to do better and better. I don’t need the motivation of beating someone else. My happiness comes from generating a love for my brand that instills incredible customer loyalty. That’s how I win.

Related: How to Breed Positivity Among Customers and Clients

But you can only do that if you continually keep an open and active relationship with your customers, better than they can get anywhere else. You need to keep your brand alive and fresh in their minds, so that they don't turn to your competitors.

Think about the brands surrounding your life. You’re probably loyal to a short list of brands that get you through your day. I can think of a handful I interact with each morning. I can’t imagine life without them. They have my loyalty because they focus on what I need. And those great brands never acknowledge their competitors because they know I wouldn’t care to hear about it.

Related: How to Dominate Your Competition With 'Reciprocal' Customer Loyalty

I’m not advocating that you should ignore your competition by any means. You have to stay on top of what others in your category or industry are doing and benchmark against them. Keep a competitive spirit, but place your energy and time on customer satisfaction.

If you're looking for an enemy, make it mediocrity, complacency and apathy. Push back when others say, “We tried that before,” or when you’re confronted with someone telling you -- “that will never work.” That’s your enemy, and it can easily be beat with a passion and commitment to your customers.

Related: 5 Ways to Close The Sale With Indecisive Customers
 

More from Entrepreneur

Brittney's a Certified Financial Planner who can help you manage your business and personal finances and navigate the ups and downs of starting a business.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.
Start My Plan

Latest on Entrepreneur